Smaller sometimes is better. Smaller concept stores in retail are finding great success. Smaller stores have less overhead and more room for profit. Smaller stores have a different take on how to stock and display items in them, but smaller is better.
Smaller concept stores have space as a challenge. Space is at a premium and using it wisely is important. Being creative in how to keep adequate inventory is always challenging. Spend your time and efforts on amazing displays. Come up with display ideas that make sense in small spaces. They should be eye catching but not cluttered. One thing to consider is offering your customers the ability to order the products they want from you on site. They will get the chance to see and “play with” the items they are interested in, and then have it shipped to them overnight. It is a great way to keep inventory low in a small space.
Another idea for a smaller concept store that will positively affect your business is remembering to have excellent customer service. Show your customers that you care about their business. Do it by giving great service. Remember that the internet makes the world a small place and if you falter in service, everyone will know. Too many other retail competitors are out there and would be more than happy to come and take your customers. Don’t give them a reason to go elsewhere.
Make your small retail space the best place to go to get their needs met. Remember that you are saving money by utilizing a small space. Lower rent, lower utilities and lower staffing costs. Use some of those savings to do extra things for your customers. The old adage that you have to spend money to make it will come in handy here. Spending a little to give your customers extras will bring you more business.
The smaller concept stores are a good idea. Smaller is better, try it and see.